U.S. Economic News

January 22, 2021

U.S. Economic Indicators

Existing home sales rose 0.7% to a seasonally adjusted annual rate of 6.8 million in December and were up 22.2% compared to a year ago. Home sales increased in the Northeast and the South on a month-on-month basis while sales increased significantly on a year-on-year basis in all four major regions. NAR Report

U.S. News

The Wall Street Journal reports that prices for corn, soybeans, and wheat have soared to their highest levels in more than six years as dry weather and strong export demand from China draw on U.S. inventories. The rising commodity prices are driving a sharp increase in farm income but may also lead to a spike in consumer food prices. WSJ